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Your answer is partially correct. Flounder Magazine sold 11,640 annual subscriptions on August 1, 2020, for $13 each. Prepare Flounder's August 1, 2020, journal entry
Your answer is partially correct. Flounder Magazine sold 11,640 annual subscriptions on August 1, 2020, for $13 each. Prepare Flounder's August 1, 2020, journal entry and the December 31, 2020, annual adjusting entry, assuming the magazines are published and delivered monthly. (If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit 8/1/20 Cash 151320 Unearned Sales Revenue 151320 12/31/20 Unearned Sales Revenue 63050 Sales Revenue 63050
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